EBA To Guide Banks On 'Legacy' Stocks In Capital Buffers

Law360, London (September 9, 2019, 6:40 PM BST) -- Europe’s banking watchdog said Monday that it will set out guidance to ensure banks are holding enough newer, high quality capital to buffer themselves against market shocks by December 2021, in a bid to move firms away from older “legacy” instruments.

The European Banking Authority said it plans to clarify by mid-2020 what banks should do to meet the Capital Requirements Regulation. The EU rules, introduced in 2013 in response to the financial crisis, force lenders to hold “own funds” that will buffer them by absorbing losses.

Own funds must be made up of high quality assets issued after June 2013,...

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